Calls grow to tap MPF for housing as young Hongkongers’ desire to buy homes wanes

A recent survey conducted by Hong Kong think tanks New Youth Forum and the Federation of Public Housing Estates highlights a growing reluctance among young Hongkongers to buy homes, spurring renewed calls to allow them to tap into their Mandatory Provident Fund (MPF) savings for housing. The study, which polled 1,073 individuals by phone between March 27 and April 17, included 321 respondents aged 18 to 40. On a scale of 1 to 10, this age group rated their desire for home ownership an average of 5.06, significantly lower than the 5.8 average among those over 40. The top deterrents were sky-high flat prices (cited by 46.4%) and the long-term financial burden of mortgage payments (21.3%).

In response to these findings, policy advocates are intensifying pressure on the government to permit young families to use part of their MPF—Hong Kong’s mandatory pension savings scheme—as a down payment for homes. They also propose offering housing loans specifically for first-time buyers and halving the required down payment for middle-income households seeking subsidised sale flats. If implemented, these measures could reshape Hong Kong’s housing landscape by making ownership more accessible to a generation increasingly disillusioned with the property market.